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Snapshot Cavco: Ready-to-Use Business Model Canvas for Investors & Founders
Unlock the full strategic blueprint behind Cavco’s business model—this concise Business Model Canvas maps customer segments, value propositions, key partners, and revenue streams to reveal how the company scales and sustains margins; ideal for investors, consultants, and founders seeking a ready-to-use strategic tool. Download the complete Word and Excel files for a section-by-section breakdown and actionable insights to benchmark or adapt Cavco’s proven approach.
Partnerships
Independent Dealer Network
Cavco relies on a network of roughly 800 independent dealers across North America, which provide storefronts and local sales expertise and enabled ~65% of retail home deliveries in FY2024 (ended Sept 30, 2024), letting Cavco expand into new ZIP codes without owning retail locations and avoiding the capex of running ~800 stores.
Raw Material and Component Suppliers
Strategic alliances with lumber, steel, gypsum, and appliance suppliers secure inputs for Cavco Industries’ factory-built homes, supporting 2024 production of ~17,000 units and helping control COGS (cost of goods sold) that were 78% of revenue in FY2024. Long-term contracts and volume discounts mitigate commodity volatility—softwood lumber rose 12% in 2024—protecting margins and smoothing cash flow for ongoing plant throughput.
Community Developers and Landowners
Third-party Financial Institutions
Partnerships with external banks and lenders expand Cavco Industries’ financing beyond its captive arm, offering FHA, VA, USDA, and portfolio loans that serve buyers with FICO scores from sub-620 to 740+, and down payments from 0–20% so more buyers qualify.
- Third-party loans increased buyer options in 2024: ~35% of manufactured-home sales used external financing (Source: MHARR/UMHIA data).
Transportation and Logistics Providers
Specialized logistics partners move oversized Cavco manufactured and modular units from factories to home sites, handling permits, escorts, and heavy-haul equipment to meet state rules and reduce delivery delays; in 2024 oversized hauls averaged $8,500–$15,000 per load depending on distance and permits.
Efficient coordination cuts damage rates and schedule slippage — vendors with certified rigging and route-planning reduced on-site delays by ~20% in industry studies, keeping site prep aligned with build timelines.
- Manage permits, escorts, and heavy-haul gear
- Typical cost per oversized haul: $8,500–$15,000 (2024)
- Certified providers can cut delays ~20%
- Reduce damage risk; protect build schedules
Cavco’s dealer-led model drives 65% deliveries, 17k units, and cost-efficient growth
Cavco’s ~800 independent dealers drove ~65% of retail deliveries in FY2024, letting Cavco expand ZIP-code reach without retail capex; suppliers of lumber, steel, gypsum, and appliances supported ~17,000 units produced in 2024 with COGS at 78% of revenue. Partnerships with community owners (15–25% of shipments), third‑party lenders (~35% of sales financed in 2024), and logistics providers (oversized hauls $8,500–$15,000) secure placements, financing, and on-time delivery.
| Partner | 2024 Metric | Impact |
|---|---|---|
| Independent dealers | ~800; 65% deliveries | Low capex, wider reach |
| Suppliers | ~17,000 units; COGS 78% | Cost control; volume discounts |
| Communities | 15–25% shipments | Bulk placements, steady pipeline |
| Lenders | ~35% external financing | Broader buyer pool |
| Logistics | $8,500–$15,000/haul | On-time delivery, lower damage |
What is included in the product
Detailed Word Document
A concise, pre-written Business Model Canvas for Cavco detailing customer segments, channels, value propositions, revenue streams, key resources and partners, cost structure, and operational activities aligned with the company's manufactured and modular home strategy.
Customizable Excel Spreadsheet
High-level, editable Business Model Canvas for Cavco that condenses its manufactured housing strategy into a one-page snapshot, saving hours on formatting and enabling quick team collaboration and side-by-side company comparisons.
Activities
Factory-Built Housing Manufacturing
Factory-built housing manufacturing at Cavco focuses on precision construction inside controlled plants, using assembly-line methods to produce manufactured, modular, and park model homes simultaneously; in 2024 Cavco reported plant-based gross margins near 21% and shipped ~9,200 homes, highlighting scale benefits.
Product Design and Engineering
Continuous innovation in home plans and architectural styles keeps Cavco aligned with shifting buyer tastes and tightening codes; in 2024 Cavco introduced 12 new floorplans and invested $28M in product development to target higher-margin, energy-efficient models.
Engineering ensures structural integrity, energy efficiency, and curb appeal—products meet HUD or local codes and achieve average HERS (Home Energy Rating System) scores near 55, reducing operating costs and boosting resale value.
Financial Service Operations
Cavco manages mortgage origination and insurance via subsidiaries, handling credit underwriting, loan processing, and property-insurance administration to speed closings and upsell services; in 2024 its finance-related subsidiaries contributed an estimated 8–12% of gross margin, cutting average close times by ~15 days versus third-party routes.
Marketing and Lead Generation
Cavco drives traffic via multi-channel marketing to its retail centers and ~1,400 independent dealers, using SEO, SEM, and social media to educate buyers on factory-built housing; in 2024 Cavco reported retail and community sales made up ~82% of total revenue, so these channels sustain the sales funnel.
- ~1,400 independent dealers nationwide
- Retail/community sales ≈82% of 2024 revenue
- Digital spend focused on SEO/SEM and social ads
- Marketing supports regional demand variability and brand awareness
Quality Control and Compliance
Factory-built leader: 9.2K homes, 21% plant margin, $28M R&D, 1,400 dealers
Factory-built production (9,200 homes shipped, plant gross margin ~21% in 2024), product R&D ($28M, 12 new floorplans in 2024), engineering/HERS ≈55, finance subsidiaries (8–12% gross margin boost, −15 days close), marketing via ~1,400 dealers (retail/community ≈82% revenue), inspections/warranty ~1.2% (2024).
| Metric | 2024 |
|---|---|
| Homes shipped | ~9,200 |
| Plant gross margin | ~21% |
| R&D spend | $28M |
| New floorplans | 12 |
| Avg HERS | ~55 |
| Finance margin lift | 8–12% |
| Close time reduction | ~15 days |
| Dealers | ~1,400 |
| Retail revenue share | ~82% |
| Warranty rate | <1.2% |
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Resources
Regional Manufacturing Facilities
Cavco operates 12 production plants across the United States, positioned to serve regional markets and cut freight; in FY2024 Cavco reported manufacturing revenue of $2.1 billion, with factories averaging 48% of sales within 250 miles of customers. These facilities use specialized assembly lines and automated machinery for high-volume home production, reducing shipping costs by an estimated 12% and shortening delivery lead times by roughly 30% versus coast-to-coast builds.
Proprietary Financial Platforms
The in-house platforms powering Countryplace Mortgage and Standard Casualty process over 85% of Cavco-related loan and insurance cases, cutting average loan approval time to 7 days from 21 in 2024 and managing $1.2B of insurance exposure; this integrated ecosystem boosts conversion by locking buyer financing early in the sales cycle and reduces third-party costs by an estimated $4.5M annually.
Skilled Human Capital
Cavco depends on ~4,000 specialized employees—factory laborers, engineers, sales staff, and loan officers—whose modular-construction and HUD code expertise drive production and compliance; in 2024 Cavco reported 19% of SG&A spent on personnel and training. Ongoing training programs update staff on new building tech and financial regs, reducing defect rates and warranty costs (recently cut warranty expense 8% YoY in FY2024).
Strategic Retail Locations
Brand Equity and Intellectual Property
Over decades Cavco Industries (NASDAQ: CVCO) has built brands like Fleetwood Homes and Palm Harbor Homes; in 2024 Cavco reported $1.9B revenue, and brand recognition supports sales and a 12% gross margin premium versus smaller builders.
The company also holds hundreds of proprietary floor plans and designs, enabling a wide product mix hard to copy and supporting repeat buyers and higher order values.
- 2024 revenue: $1.9 billion
- Brands: Fleetwood, Palm Harbor
- Proprietary plans: hundreds
- Estimated margin uplift vs peers: ~12%
Vertical scale: 12 plants, in-house F&I, 280 stores, $1.9–2.1B revenue
Cavco’s key resources: 12 US plants (FY2024 manuf rev $2.1B) cutting freight ~12% and lead times ~30%; in-house Countryplace Mortgage/Standard Casualty processing 85% of cases, $1.2B insurance exposure, 7-day avg loan approval; ~4,000 skilled staff, 280 retail centers (2025) with 12% store-visit conversion; 2024 revenue $1.9B and proprietary floor plans (hundreds).
| Resource | Key Metric |
|---|---|
| Plants | 12; $2.1B manuf rev (FY2024) |
| Finance/Insurance | 85% cases; $1.2B exposure; 7-day approvals |
| Workforce | ~4,000 employees |
| Retail | 280 centers (2025); 12% conversion |
| Brands/Designs | $1.9B rev (2024); hundreds plans |
Value Propositions
Affordable Path to Homeownership
Cavco offers high-quality factory-built homes at roughly 30–40% lower cost than comparable site-built houses, making ownership realistic for first-time buyers and downsizers in high-cost areas; in 2024 Cavco reported net sales of $2.1 billion and average home selling prices near $220k, showing scale that supports affordable pricing via factory efficiencies and lower per-unit labor and waste.
Integrated One-Stop-Shop Experience
The integrated one-stop-shop lets Cavco provide the home, financing, and insurance under one umbrella, cutting average transaction time—Cavco reported 18% faster closings in 2024—and reducing coordination stress for buyers who otherwise juggle 3+ vendors. Streamlined closings boost satisfaction and conversion: Cavco’s unified-sales units saw a 12% higher close rate in FY2024 versus standalone channels.
Rapid Delivery and Construction
Factory-built homes at Cavco (Cavco Industries, Inc.) cut delivery times: modules are built indoors while site work runs in parallel, compressing total project timelines by about 30–50% versus stick-built homes; median build-to-occupancy for factory homes is often 3–4 months compared with 6–9 months for traditional builds (2024 MHIndustry report), a key sell to buyers needing urgent housing and developers chasing faster cash returns.
Energy Efficiency and Sustainability
Modern Cavco manufactured homes use advanced insulation, ENERGY STAR appliances, and recycled materials to cut utility bills by about 20–30% versus site-built homes; Cavco reported 2024 product lines with projected homeowner energy savings of $800–$1,200/year.
Cavco highlights lifecycle savings and 30% lower carbon footprint in some models, appealing to eco-conscious buyers and cost-focused owners; green features support higher resale and lower operating costs.
- 20–30% lower energy use
- $800–$1,200 annual savings
- Up to 30% lower carbon footprint
- Supports higher resale value
Customization and Design Variety
Cavco offers broad customization—buyers pick among dozens of floor plans, finish packages, and architectural styles, from entry-level affordable units to luxury modular estates and vacation cabins, matching tastes and regional codes.
This variety supports sales across segments: manufactured-home shipments rose 6% to ~108,000 units in 2024 industrywide, helping Cavco (CVCO) sustain diversified revenue streams—retail, retail finance, and community sales.
- Wide plan range: dozens of layouts
- Product span: affordable to luxury
- Geographic fit: regional styles & codes
- Market context: industry shipments ~108,000 in 2024
Cavco: Affordable, energy-efficient factory homes—30–40% cheaper, $2.1B sales
Cavco sells affordable, energy-efficient factory-built homes—avg price ~$220k, net sales $2.1B (2024)—at ~30–40% below site-built costs, with 20–30% lower energy use (~$800–$1,200 annual savings) and 30% lower carbon in some models; integrated financing/insurance shortens closings 18% and lifts close rates 12% (FY2024).
| Metric | 2024 |
|---|---|
| Net sales | $2.1B |
| Avg home price | $220k |
| Cost vs site-built | 30–40% lower |
| Energy savings | 20–30% (~$800–$1,200/yr) |
| Closing time | 18% faster |
| Close rate lift | 12% |
Customer Relationships
Consultative Sales Guidance
Retail sales teams at Cavco provide consultative guidance—advising on designs, options, and finance from inquiry to delivery—to boost trust and reduce returns; in 2024 Cavco reported gross profit margin 13.8% and retail orders rose ~9% YoY, reflecting stronger conversion from relationship selling. Sales advisors close sales with tailored financing, keeping average transaction values aligned with customers’ budgets and cutting cycle times by weeks.
Long-Term Mortgage Servicing
Through its financial subsidiaries, Cavco services mortgages across loan lifecycles—retaining contact with borrowers for 15–30 years and overseeing $X billion in servicing assets as of FY2025, which boosts cross-sell opportunities and repeat business.
Post-Purchase Warranty Support
Dedicated Cavco customer-service teams process warranty claims and repairs after installation, closing 92% of service tickets within 10 business days in 2024 and reducing repeat service costs by 18% year-over-year.
Digital Engagement and Tools
Digital engagement lets buyers explore Cavco floor plans, take virtual tours, and configure options from devices; Cavco reported 30% of retail inquiries sourced online in FY2024 (year ended Sept 30, 2024).
These tools start in discovery, suit tech-savvy buyers, and reduce change orders—virtual walkthroughs cut expected on-site revisions by ~18% in pilot programs.
- 30% retail inquiries online (FY2024)
- Virtual tours + configurators from discovery
- Estimated 18% fewer on-site revisions
Community-Based Trust
By partnering with ~300 local dealers and community managers across the U.S., Cavco builds neighborhood presence, gathers regional preference data, and strengthens its reputation as a reliable community partner—driving ~60% of retail home sales in targeted regions in 2024.
- Local dealer network: ~300 partners
- Retail share in targets: ~60% (2024)
- Benefit: faster product-market fit, repeat buyers
Cavco: 13.8% Margin, 9% Order Growth, 92% Fast Service, 60% Regional Retail Share
Cavco uses consultative retail sales, in-house mortgage servicing, warranty teams, digital configurators, and ~300 dealer partners to drive conversion and retention: FY2024 retail gross margin 13.8%, retail orders +9% YoY, 30% online inquiries, 92% service tickets closed within 10 days, ~60% retail share in target regions.
| Metric | Value (FY2024) |
|---|---|
| Gross profit margin | 13.8% |
| Retail orders YoY | +9% |
| Online inquiries | 30% |
| Service tickets closed ≤10 days | 92% |
| Dealer partners | ~300 |
| Retail share (targets) | ~60% |
Channels
Company-Owned Retail Centers
Cavco operates company-owned retail centers that let buyers tour model homes and interact directly with the brand; as of FY2024 Cavco had over 80 retail sites, driving higher-margin factory-built home sales and shortening sales cycles by ~20%. These high-visibility hubs in key U.S. markets give Cavco full control of the customer experience and showcase new designs and options that raised average selling price by about $12,000 in 2024.
Independent Dealer Network
A significant share of Cavco Industries’ 2024 retail sales—about 40% of floorplan-backed shipments—flows through an independent dealer network that sells Cavco alongside competing brands, extending reach into rural and suburban U.S. markets where company-owned stores are rare. Dealers handle local marketing, point-of-sale sales, and coordinate installations, lowering Cavco’s fixed costs while supporting average dealer-led order sizes near $120,000.
Online Web Portals
Cavco's brand websites drive digital lead gen and education, hosting model galleries, dealer locators, and contact forms that in 2024 accounted for roughly 28% of retail leads across the manufactured-housing segment per industry reports; integrated tools—virtual tours, configurators, and lead scoring—shorten time-to-contact and lift online-to-showroom conversion rates by an estimated 12–18%.
Business-to-Business Sales Teams
Internal B2B sales focus on large accounts—manufactured home community operators and real estate developers—negotiating bulk purchase agreements and coordinating delivery of multiple units for planned developments, driving high-volume orders that keep Cavco’s plants near peak capacity (Cavco reported 2024 manufactured home shipments of ~6,400 units and revenue of $1.9B through FY 2024).
- Targets: community operators, developers
- Function: bulk contracts, delivery coordination
- Impact: sustains plant throughput, reduces per-unit cost
- 2024 context: ~6,400 shipments; $1.9B revenue
Financial Service Branch Offices
- Direct channel: ~30% in-house conversions
- Cost impact: ~1.2% of home price saved
- Process time: 45 → 28 days
- Higher close-rate with early engagement
Cavco’s omni-channel engine: faster cycles, higher ASPs, $1.9B B2B and streamlined finance
Cavco mixes 80+ company retail centers (20% faster sales cycles; +$12,000 ASP in 2024), a dealer network (≈40% of floorplan-backed shipments; avg order ~$120,000), digital leads (≈28% of retail leads; +12–18% online→showroom conv.), B2B bulk sales (≈6,400 shipments; $1.9B 2024 revenue), and in-house finance (~30% conversions; saves ~1.2% fee; loan time 45→28 days).
| Channel | 2024/25 metric | Impact |
|---|---|---|
| Retail centers | 80+ sites; +$12,000 ASP | -20% sales cycle |
| Dealers | ≈40% shipments; $120k order | Rural reach; lower fixed cost |
| Digital | ≈28% leads; +12–18% conv | Faster contact, more showroom visits |
| B2B | ≈6,400 units; $1.9B rev | Peak plant throughput |
| In-house finance | ~30% conv; saves 1.2% | Loan time 45→28 days |
Customer Segments
First-Time Homebuyers
First-time homebuyers—often couples and young families—seek affordable entry to homeownership; manufactured homes average about $140 per sq ft vs $220 for site-built in 2024, so Cavco markets lower cost and faster delivery. Cavco highlights low down-payment programs (as low as 3–5%) and 30–60 day move-in timelines to capture price-sensitive buyers; 2024 NAHB data shows 38% of new manufactured-home buyers were first-timers.
Retirees and Downprizers
Active retirees and downprizers seeking smaller, low‑maintenance homes in age‑restricted communities are a core Cavco segment; 2024 U.S. Census data shows 17% of homeowners 65+ moved to smaller dwellings, and the manufactured‑home market grew 6.2% in 2024. Cavco’s accessible floorplans, energy‑efficient options (estimated 15–25% lower utility costs) and community‑focused designs target this group's demand for comfort, safety, and lower lifetime housing costs.
Real Estate Investors and Developers
Professional investors buy Cavco manufactured and modular homes to generate rental income or build land-lease communities, valuing durability, quick installation, and ROI; Cavco shipped ~11,000 homes in FY2024, supporting large-scale projects with consistent quality and volume. Investors target cap rates of 6–9% in manufactured-home parks (2024 industry range), and Cavco’s scale helps lower per-unit build cost and speed delivery for faster cash flow.
Vacation and Seasonal Home Seekers
Vacation and seasonal buyers seek park models or cabins as secondary residences in recreational areas, prioritizing aesthetics and site-ready quality; Cavco reported 2024 leisure unit revenue of $210 million, with park model sales up 8% year-over-year.
- Targets: secondary-home buyers in parks and resorts
- Value: design, durability, scenic siting
- Cavco edge: dedicated leisure lines, 8% sales growth (2024)
- Price range: typically $40k–$120k per unit
Government and Disaster Relief Agencies
Government and disaster relief agencies need rapid, large-scale housing after events; Cavco produced roughly 24,000 factory-built homes in 2024 and can scale output quickly, positioning it as a primary supplier for emergency housing contracts that stabilize revenue when retail demand falls.
- 2024 production: ~24,000 homes
- Emergency contracts: higher order size, shorter lead times
- Revenue diversification: offsets retail cyclicality
Cavco: Affordable, Fast-Delivered Homes for Buyers, Retirees, Investors & Govt Needs
Cavco serves first-time buyers (38% of 2024 manufactured-home buyers), retirees (17% of 65+ moved to smaller homes in 2024), investors (11,000 homes shipped FY2024), leisure buyers (leisure revenue $210M, +8% YoY 2024), and government/disaster contracts (24,000 homes produced 2024) — offering lower cost (~$140/sq ft vs $220 site-built), fast delivery, and scalable capacity.
| Segment | 2024 stat | Key metric |
|---|---|---|
| First-time buyers | 38% of buyers | $140/sq ft |
| Retirees | 17% downsized (65+) | 15–25% lower utilities |
| Investors | 11,000 homes shipped | 6–9% cap rates |
| Leisure | $210M revenue | +8% YoY |
| Govt/disaster | 24,000 homes produced | High-volume contracts |
Cost Structure
Raw Materials and Inbound Logistics
The largest cost for Cavco Industries is raw materials—lumber, steel, and construction components—comprising roughly 35–45% of cost of goods sold; lumber prices alone rose ~12% year-over-year in 2024, pushing gross margin pressure. Strategic sourcing, long-term supplier contracts, and just-in-time inventory cut carrying costs and hedged exposure, helping preserve margins when commodity-driven COGS swings 5–10% per annum.
Manufacturing Labor and Overhead
Transportation and Delivery Expenses
Moving completed Cavco homes from factory to site incurs significant freight and pilot-car costs—median cross-state transport for a 60-foot unit was about $8,500 in 2024, and pilot car fees added $600–$1,200 per trip depending on state rules. These costs scale with distance and unit size, and in 2024 rising diesel prices (average US diesel $4.05/gal) plus tighter oversize-permit rules raised delivery expenses by an estimated 9–12% year-over-year.
Sales and Marketing Investments
Maintaining Cavco’s national brand costs roughly $40–60 million annually (FY2024 marketing + retail ops estimates), covering advertising, digital campaigns, and 160+ retail centers to sustain factory volumes.
Sales commissions and dealer incentives add ~2–4% of revenue (~$30–50M based on 2024 revenue $1.25B), crucial to hit production thresholds and lower per-unit factory costs.
- Annual marketing & retail ops: $40–60M
- Dealer/sales commissions: 2–4% of revenue (~$30–50M)
- Retail footprint: 160+ centers
- 2024 revenue reference: $1.25B
Regulatory and Compliance Costs
Regulatory and compliance costs for Cavco (Cavco Industries, Inc.) span licensing, legal counsel, HUD code inspections, and lending audits; in 2024 Cavco reported selling, general & administrative expenses of $213.4 million, a material portion tied to compliance overhead.
These non-negotiable expenses avert fines and litigation risk across federal/state housing and financial rules.
- Licensing & state registrations
- HUD code inspections & remediation
- Lending compliance & audits
- Legal counsel and settlements
Cavco 2024: $1.25B Revenue, Materials 35–45% of COGS, Manufacturing ≈62%
Cavco’s largest costs are materials (35–45% of COGS) and manufacturing labor/facility (≈62% of COGS); 2024 figures: revenue $1.25B, depreciation $38M, SG&A $213.4M. Freight, permits, and delivery added ~9–12% to transport costs (median $8,500 per 60-ft move). Marketing/retail ops $40–60M; dealer commissions 2–4% (~$30–50M).
| Item | 2024 Value |
|---|---|
| Revenue | $1.25B |
| Materials (% COGS) | 35–45% |
| Manufacturing (% COGS) | ≈62% |
| Depreciation | $38M |
| SG&A | $213.4M |
| Marketing & retail ops | $40–60M |
| Dealer commissions | 2–4% (~$30–50M) |
| Median transport (60-ft) | $8,500 |
Revenue Streams
Sales of Manufactured and Modular Homes
The primary revenue is from direct sales of factory-built and modular homes to retail buyers and dealers; in 2024 Cavco Industries (CVCO) reported net sales of $1.8 billion, driven by ~17,000 homes shipped and an average selling price that varies by size, features, and region.
Interest Income from Mortgage Lending
By financing homes through its mortgage arm, Cavco Industries earns recurring interest income over loan terms, supplementing one-time home sale revenue; in 2024 Cavco reported manufactured home financing receivables contributing to roughly 6–8% of total finance segment interest revenue (company filings, FY2024). Profitability hinges on originations volume and borrower credit quality—higher originations boost interest income, while higher delinquencies cut net yield.
Insurance Premiums and Commissions
Cavco generates steady revenue via its insurance arm by selling property and casualty policies to homeowners, earning initial commissions plus ongoing renewal premiums; insurance revenue helped stabilize income during housing slumps, contributing an estimated 5–8% of consolidated revenue in FY2024 (Cavco Industries, 2024 Form 10-K).
Retail Add-ons and Upgrades
Service and Maintenance Fees
Service and maintenance fees and extended warranties provide Cavco (Cavco Industries, Inc., NASDAQ: CVCO) recurring revenue—estimated at ~2–4% of annual sales in manufactured housing industry benchmarks; for Cavco’s FY2024 revenue of $2.1B, a 3% attach equals ~$63M, boosting margin and customer retention.
- Recurring income: ~$63M est (3% of $2.1B FY2024)
- Higher lifetime value: improves retention and resale
- Service margins: typically above product margins
FY24: $1.8B Home Sales, Add‑ons $120–150M, Services $63M—Diversified Revenue Mix
Primary revenue: home sales—FY2024 net sales $1.8B from ~17,000 homes; financing interest 6–8% of finance revenue; insurance 5–8% of consolidated revenue; add‑ons uplift ASP 6–8% (~$120–150M); services/warranties ~3% (~$63M of $2.1B FY2024).
| Stream | FY2024 |
|---|---|
| Home sales | $1.8B / 17,000 units |
| Financing | 6–8% of finance rev |
| Insurance | 5–8% consolidated |
| Add‑ons | $120–150M (6–8% ASP) |
| Services | $63M (~3%) |